For quite some time, the privately run program known as Medicare Advantage has been criticized for its inability to actually impact the amount of money its consumers save. Medicare Advantage plans specifically have been described by some critics as providing little savings paired with little benefits. But the reality is quite the opposite: Medicare Advantage plans provide high quality healthcare at a money-saving value.
A 2014 figure shows us that there are currently 16.2 million beneficiaries enrolled in Medicare Advantage plans. That number has increased dramatically since 2005, by almost 16 percent. With that increase there has been improvement in quality versus the traditional fee-for-service plans (FFS). Recent data published by the Medicare Payment Advisory Commission (MedPAC) suggests that Medicare Advantage plans are able to give the Medicare Benefit package for two percent less than what it costs in fee-for-service plans. So, what does this mean for you?
Choosing a Medicare Advantage Plan
Medicare Advantage plans have been shown to offer better quality in terms of health care services – better than FSS plans. According to a Health Affairs study conducted in 2013, Medicare Advantage HMOs exceed FSS plans on services such as diabetic care and cancer screening.
There are pros and cons to choosing a Medicare Advantage plan, but it is clear that funding these plans is an efficient choice for the tax-payers when compared to traditional Medicare. A Medicare Advantage plan might be the right choice for you, and a Personal Benefits Consultant can guide you through the process of making that decision and getting signed up. We offer a multitude of information on our website that can help you sort through the questions you may have. You can also make an appointment with one of our Personal Benefits Consultant by calling 866-323-1441.
We’re Here to Help
A MediGap Advisors Personal Benefits Consultant knows that the process of obtaining health coverage can be daunting. That is why we are here to guide you and answer any questions you may have about Medicare plans. Our goal is to help you maximize your health care savings while also making sure you get the quality coverage you need.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.